Question: A 9 . 1 4 % annual coupon, 2 3 - year bond has a yield to maturity of 4 . 6 4 % .

A 9.14% annual coupon, 23-year bond has a yield to maturity of 4.64%. Assuming the par value is $1,000 and the YTM is expected not to change over the next year, what is bond price expected to be in one year?

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